Former Newcastle United owner Mike Ashley has taken over the Coventry Building Society Arena after buying its three operating companies for £17m.
The acquisition by Ashley’s Frasers Group of the 32,609-seat stadium includes a hotel and a casino as well as the home of Coventry City Football Club.
Ashley’s group beat Doug King, Coventry City’s new owner, to the deal, after a court ruled that King’s £25m offer to buy the arena had come too late.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
